Investing.com - iQIYI reported on Tuesday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
iQIYI announced earnings per share of -0.28 on revenue of 6.66B. Analysts polled by Investing.com anticipated EPS of -0.1591 on revenue of 6.71B.
iQIYI shares are up 31.4% from the beginning of the year and are trading at 3.81 , down-from-52-week-high.They are outperforming the Nasdaq which is down 22.7% from the start of the year.
iQIYI shares lost 2.93% in intra-day trade following the report.
iQIYI follows other major Communication Services sector earnings this month
iQIYI's report follows an earnings missed by Tencent ADR on Wednesday, August 17, 2022, who reported EPS of 0.2819 on revenue of 19.73B, compared to forecasts EPS of 0.3769 on revenue of 19.89B.
Walt Disney had beat expectations on Wednesday, August 10, 2022 with third quarter EPS of 1.09 on revenue of 21.5B, compared to forecast for EPS of 0.9733 on revenue of 20.99B.
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